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During Periods of Inflation,when Comparing LIFO with FIFO

Question 146

Multiple Choice

During periods of inflation,when comparing LIFO with FIFO:


A) LIFO inventory and cost of sales would be higher.
B) LIFO inventory and cost of sales would be lower.
C) LIFO inventory would be lower and cost of sales would be higher.
D) LIFO inventory would be higher and cost of sales would be lower.

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